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Enterprise Risk Management - Associate
Banco Santander
New York, NY, United States
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Description
Brief Summary:
The Enterprise Risk Management team is responsible for the implementation of the enterprise risk management framework and related policies, including the Material Risk Program, Risk Appetite Program, New Products and Business Activities, and Risk Governance at the Banco Santander SA, NY Branch (BSNY) and Santander Investment Securities Inc. (SIS).
As a representative of the second line of defense, Enterprise Risk Management drives the appropriate design, implementation and execution of the enterprise risk management framework and related policies and standards. The role will work collaboratively with all lines of businesses to ensure a consistent and integrated approach is applied to risk identification, assessment, monitoring and reporting of emerging and evolving risks and risk management deficiencies, in alignment with the Firm’s Risk Appetite and business objectives, and reinforcing a culture of risk awareness.
The ERM Assistant Vice President will support the following programs: Risk Governance and Reporting, Material Risk, Risk Appetite and New Products and Business Activities. The role will ensure effective monitoring and control of Policies and Procedures across all the business areas and risk functions.
In a second line of defense capacity, the ERM Assistant Vice President will partner with the business (first line of defense) and other risk functions (second line of defense) to identify gaps in the Risk Governance and Reporting control environment and work collaboratively to remediate the issues.
Additionally, the ERM Assistant Vice President will perform risk quality assurance & control on the reported risk exposures, monitor compliance with limits of risk appetite metrics and key risk indicators, and progress towards remediation of internal and external findings.
Qualifications
Principal Responsibilities:
Primary functions for the ERM Assistant Vice President will include, but are not limited to:
• Enhance and continue to develop the controls and monitoring of Policies and Procedures. Lead the related working group, track the aging of the documents and work in collaboration with all the business areas to resolve issues.
• Ensure CFTC 1.11 Risk Exposure Report are filed as required by regulations.
• Assists with the development and maintenance of frameworks, policies and procedures relating to Enterprise Risk Management and effectively implement them throughout the Firm.
• Support the maintenance of risk related committee Charters;
• Develop and implement processes to assess and/or monitor the effectiveness of risk governance frameworks / adherence to policies and procedures as appropriate;
• Provide administrative and risk governance support for the Executive Risk Committee and related working groups including the Policy and Procedure Working Group
• Enhance and continue to develop organization capability around risk governance and decision processes
• Enhance the reporting for the Level 1 and Level 2 Committees including monthly reporting for the Executive Risk Committee, CEO Executive Committee and Board, as applicable.
• Assist the core risk programs for the Firm, including Risk Appetite, New Products and Business Activities and Material Risk Program. Review and challenge of risk appetite and key risk indicator metrics. Build awareness of the business implications of material risks, and how to manage these risks, as part of a strong risk culture.
• Assist the Head of Enterprise Risk Management on enterprise-wide strategic and regulatory projects or policy initiatives impacting risk governance and control through program management, escalation of issues and reporting;
Other:
• Assist in risk mitigation actions and/ or challenging non-optimal decisions. Interactions will include all lines of defense risk teams
• Identify execution risks and recommend alternatives to meet strategic objectives.
• Update policies and prepare gap analysis to align policies with Enterprise Policies.